H.I.G. Capital and Thoma Bravo to Acquire CompTIA Brand and Products

SAN FRANCISCO, MIAMI, and DOWNERS GROVE, Ill., Nov. 4, 2024 /PRNewswire/ -- H.I.G. Capital ("H.I.G.") and Thoma Bravo are pleased to announce the signing of a definitive agreement to acquire the brand and world-leading information technology (IT) certification and training business and products of the Computing Technology Industry Association ("CompTIA").


CompTIA is a global leader in IT certifications and trainings, focused on promoting industry growth and skills development across the $5 trillion global IT ecosystem and its 38 million professionals. It provides comprehensive education, training, certifications, and market research, across areas including cybersecurity, emerging technologies, networking, cloud computing, and technical support. As the largest vendor-neutral credentialing program for technology workers, CompTIA has awarded over 3.5 million globally recognized certifications to professionals across the full range of technology companies. It also maintains a strong global partner program with thousands of academic institutions, non-profits, job corps centers, and other organizations, focused on developing and certifying the next generation of technology talent. Following the closing of the transaction, CompTIA will operate as a for-profit company under H.I.G. and Thoma Bravo's ownership. Its existing membership-based, 501(c)(6) nonprofit organization will be separated from CompTIA and continue its mission of service to the IT industry.


"We are thrilled to be joining forces with two leading, experienced investors in the technology space, whose expertise and resources will allow us to expand our impact on the global IT industry," said Todd Thibodeaux, President and CEO at CompTIA. "Through this transaction, we will be well-positioned to accelerate and expand the rollout of products and services to train the highly skilled workers of the future, and further strengthen our reputation across the industry as the leading provider of certifications and trainings."


"The Association's Board of Directors is very excited to be working with H.I.G. Capital and Thoma Bravo in this transformational process for the Association and also for the CompTIA business," said Tracy Pound, Chair of CompTIA's Board.

"This transaction will allow the Association to chart an expanded course of service to the global IT industry while making a substantial new commitment to charitable impact," added Scott Barlow, Vice Chair of CompTIA's Board.

"We are delighted to partner with Todd and the rest of the CompTIA team," said Matthew Robinson, Managing Director at H.I.G. "We look forward to embarking together with management on CompTIA's next phase of growth as a business fully dedicated to advancing the careers of IT professionals globally."

"Global education is continually evolving to become more skills-based, and CompTIA is powering that shift with partnerships spanning academic institutions, private enterprises, government entities, and training delivery partners," said Matt Hankins, Managing Director at H.I.G. "CompTIA's educational training content and certifications are enabling people across the world to gain entry and advancement in the IT space to unlock personal earning potential."

"The technology landscape is evolving quickly, and it is more important than ever that IT professionals have the skills needed to solve not only today's challenges, but also those expected to emerge in the future," said A.J. Rohde, Senior Partner at Thoma Bravo. "We view our investment in CompTIA as an important opportunity to capitalize on this growing need while investing in the development of the industry as a whole."

"CompTIA is a trusted name in IT, with significant partnerships across sectors and industries," said George Jaber, Principal at Thoma Bravo. "We look forward to working with CompTIA to invest in further developing its suite of industry-leading training and certification products, creating the next generation of resources that the industry needs while upholding CompTIA's global reputation."

The transaction is expected to close in early 2025 and is subject to customary regulatory approval.

Macquarie Capital, Ropes & Gray LLP, and Polsinelli LLP are serving as advisors to H.I.G. and Thoma Bravo. J.P. Morgan Securities LLC is serving as exclusive financial advisor to CompTIA and Husch Blackwell LLP is serving as legal advisor.

About CompTIA

The Computing Technology Industry Association (CompTIA) is the world's leading information technology (IT) certification and training body. CompTIA is a mission-driven organization committed to unlocking the potential of every student, career changer or professional seeking to begin or advance in a technology career. Millions of current and aspiring technology workers around the world rely on CompTIA for the training, education and professional certifications that give them the confidence and skills to work in tech. For more information, visit comptia.org.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $65 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

• H.I.G.'s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.'s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and affiliates.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with approximately $160 billion in assets under management as of June 30, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in more than 490 companies representing approximately US$265 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, London, Miami, New York and San Francisco. For more information, visit thomabravo.com.

Bradley Haynes said:

The item I noticed was that this acquisition will be run as a for profit entity. I feel this is good news for instructors and educators since an investment company sees opportunity with the CompTIA brand. The training industry is going through a big transformation, maybe more to follow?

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We may have to agree to disagree. I have more faith in a certification organization being run as a non-profit than as a for-profit entity.

For-profit organizations are more concerned about the bottom line than the mission. Non-profits are more concerned with the mission than the bottom line.

In my experience.

To add some context to the discussion, OffSec was acquired by Leeds Equity Partners in October 2024.


NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Leeds Equity Partners ("Leeds Equity") announced today that it has acquired OffSec (the "Company"), the leading provider of continuous cybersecurity workforce development training and professional education for cybersecurity practitioners from Spectrum Equity. Terms of the transaction were not disclosed.

OffSec has been setting the standard in cybersecurity training for over 15 years, offering practical, hands-on skills development through a proprietary learning platform that includes thousands of hours of content, more than 4,000 labs, and 12 industry-standard certifications. The Company's certifications are globally recognized by employers and cybersecurity practitioners for their rigor and relevance for the most critical cybersecurity roles.

The acquisition of OffSec builds upon Leeds Equity's deep experience and investment track record in vertical training and professional development, as well as IT certifications and cybersecurity data and technology solutions.

"The cybersecurity landscape is rapidly evolving, and our investment in OffSec reflects our belief that the future of cybersecurity protection depends on ongoing, practical education and preparedness within the workforce. We are proud to partner with the OffSec team as it equips individuals and organizations with the knowledge and skills to combat increasingly sophisticated cyber threats," said Jacques Galante, Partner of Leeds Equity.

"Leeds Equity has a longstanding track record of successfully partnering with providers of specialized training and education, including strong domain expertise within the cybersecurity sector," said Ning Wang, Chief Executive Officer of OffSec. "We are thrilled to have them as our partner during this next phase of growth as we continue to expand our enterprise customer relationships and invest in new content, technology, and education solutions for our global community of learners and practitioners."

"The talent shortage and widening skills gap within cybersecurity are among the most pressing issues facing global enterprises," said Kevin Malone, Managing Director of Leeds Equity. "We are excited to partner with Ning and the entire OffSec team as they address these urgent challenges, enabling professionals and enterprises to safeguard critical systems."

Reed Smith served as legal counsel to Leeds Equity Partners and J.P. Morgan served as financial advisor to OffSec.

About Leeds Equity Partners:

Leeds Equity is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training, and information services industries (the "Knowledge Industries"). The firm was founded in 1993 and currently manages approximately $5 billion of capital across a broad spectrum of companies within the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies and investors. For additional information on Leeds Equity Partners, see http://www.leedsequity.com/.

About OffSec:

OffSec is the leading provider of continuous professional and workforce development, training, and education for cybersecurity practitioners empowering individuals and organizations to build cyber resilience and combat cyber threats. OffSec's distinct pedagogy and practical, hands-on learning help organizations fill the information security talent gap by training teams on today's most critical skills. OffSec also funds and maintains Kali Linux, the leading operating system for penetration testing, ethical hacking, and network security assessments. For more information, visit https://www.offsec.com/.

To add further context to the discussion, EC-Council sold a significant equity stake to EQT Private Equity in September 2021.


STOCKHOLM, Sept. 27, 2021 /PRNewswire/ -- EQT is pleased to announce that the EQT Mid Market Asia III Fund ("EQT Private Equity") has made a significant investment in EC-Council (the "Company"). EC-Council's founder, Malaysian technopreneur Jay Bavisi, will retain a majority stake in the Company and remain as the Group Chief Executive Officer.

Established in 2001, EC-Council develops and provides proprietary cybersecurity training and certification programs for customers in more than 145 countries around the world, both directly and through more than 700 partners. The Company has experienced strong growth in recent years driven by a rising need to protect corporations against increasingly complex cyber threats and a widening gap in the supply and demand of digital talent in the cybersecurity industry. Today it has a global presence with offices and operations in the US, Asia and Europe, employing about 500 people worldwide.

EQT will support EC-Council in its next chapter by leveraging EQT's experience developing cybersecurity companies, its global advisory network and in-house capabilities within digitalization and sustainability. To further support the Company on its next stage of growth, EQT is happy to announce that Andrew Wait, former President of Lynda.com and EF Englishtown and former SVP and general manager at Ancestry.com, will join EC-Council's board of directors.

EC-Council's training and certification programs help to equip students and professionals with both foundational and advanced skill sets required to thrive in the cybersecurity industry. The Company's first and most well-known certification, the Certified Ethical Hacker (CEH), specializes in ethical hacking and provides students with an understanding of various cyber-attack vectors and preventative countermeasures and regularly ranks among the top ten certifications that are highly sought after by employers in the cybersecurity industry.

EC-Council programs set the cybersecurity bar globally and are trusted by seven of the top ten Fortune companies and 47 of the top 100 list. The Company is also supporting public organizations and governmental bodies, including the US Department of Defense (DoD), various agencies in the global intelligence community, NATO, and more than 2,000 of the world's top universities, colleges and training companies.

Since its inception, EC-Council has grown into a platform that aims to not only educate and certify, but also to provide a holistic ecosystem for current and aspiring cybersecurity professionals worldwide. The Company now has dozens of certification programs worldwide designed to expand and advance skillsets cybersecurity professionals need. The Company's EC-Council University, an accredited institution of higher learning in the US, provides certificate, undergraduate and postgraduate programs in cybersecurity.

Brian Chang, Partner, Head of Southeast Asia and Investment Advisor within the EQT Private Equity Advisory Team, said, "EQT Private Equity is excited to invest in EC-Council at this pivotal stage of the Company's growth. We have been impressed with EC-Council's development in this high-growth sector and its role in expanding the talent pool in the global cybersecurity industry. We see immediate opportunities to apply our digital skillset as well as our industry network and sector expertise to support EC-Council's ambitious vision and growth plans. We look forward to partnering with Jay and his management team to develop its full potential going forward." Jay Bavisi, Founder and CEO of EC-Council, said, "Over the past two decades, the entire EC-Council team has dedicated itself to the mitigation and remediation of the cyber plague that remains an ever-present challenge to organizations in all geographies and industries across the globe. We are excited to partner with one of the world's largest and most highly respected private equity institutions, EQT, to further accelerate our growth and increase our positive impact to the global community. By expanding our cybersecurity product portfolio and increasing the accessibility of online cyber preparedness training and testing tools, we hope to accelerate the development of cyber talent worldwide while encouraging the participation of more diverse communities in this growing industry."

Tess Sluijter said:

As @drushtx mentions over here ->

There's a whole lobbying part to CompTIA.

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I can't listen to @drushtx any more. He shills for Professor Messer nonstop.

My concern is for the quality and value of the certification programs for the students as well as the organizations that have placed their trust in CompTIA.